China Stock Halted After 300% Spike

PLAG was up more than 300% when it was halted

Oct 19, 2018 at 3:14 PM
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Stocks are trading higher today and are set to close the week with a win. Two names in particular making a big move out of the healthcare sector are Anavex Life Sciences Corp. (NASDAQ:AVXL) and Dentsply Sirona Inc. (NASDAQ:XRAY), while China-based food processing concern Planet Green Holdings (NYSE:PLAG) soars. Here's what's moving shares of AVXL, XRAY, and PLAG.

AVXL Jumps on FDA Decision

AVXL stock is up 4% at $2.57, on news the Food and Drug Administration (FDA) is allowing the company its trial for a Rett Syndrome treatment. While the shares are still trading higher, they've actually given up most of their gains from today, earlier trading as high as $3.10. The equity has been trending lower since June, and has been losing a battle with its 200-day moving average since August. Still, all three analysts tracking Anavex Life Sciences have "strong buy" ratings. 

XRAY Runs Into 50-Day

XRAY stock has added 2.6% at $36.58, after Goldman Sachs lifted its rating to "buy" from "sell." The shares were rejected at their 50-day moving average earlier, however, and have a year-to-date deficit of 44%. Looking closer, the security suffered a nasty bear gap back in early August, eventually bottoming near $35 back on Oct. 11. Most of Wall Street is sitting on the fence when it comes to XRAY, with nine of 13 brokerage firms handing out tepid "hold" rankings.

Mysterious PLAG Stock Still Halted

PLAG stock was halted early this morning and as of the time of this writing it's yet to resume trading. The shares were last seen up 331% at $11.51, a new annual high. Before today, the equity had been in a steady downtrend over the past year, bottoming at $1.85 on Oct. 10. Almost no one is paying attention to Planet Green Holdings; there are zero analysts in coverage and short interest is negligible.

 

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